Life insurance is one of the important pillars of personal finance. In the COVID-19 era, this has assumed greater significance.
In case of the death of the insured individual during the policy term, the death benefit (a lump-sum amount) is paid by the insurance company to the beneficiaries named by the individual. If the person survives the tenure of the policy, he/she doesn’t get anything back.
The
San Antonio, Texas-based USAA Insurance, America’s fifth largest property-casualty insurer, used the sudden change in driving patterns and accident logs as a cue to return money to its policyholders. In 2020, USAA has returned over $1 billion to its policyholders through “auto insurance dividends,” which are helping to keep cash in their pockets at a time of economic uncertainty.
forbes.com
In
While motorbikes and cars share the road, there are a few differences to take into account when choosing an insurance policy to suit each kind of vehicle.
mozo.com
Some are more obvious – like having no windshield on a bike meaning you won’t need windscreen cover – while others might be harder to pinpoint. To make sure you choose the right policy for your set of wheels, be they a pair of two
A panel of judges has preemptively moved to prevent 1,000 COVID-19-related business interruption (BI) insurance lawsuits from consolidating, which would have swamped the one judge overseeing all the cases.
insurancebusinessmag
Last week, a group of judges said that it would be too unwieldly for one judge to administer over 1,000 BI cases from all across the US, ruling that it would be more efficient
Various social justice movements around the world have shone a spotlight on issues of discrimination. Considering these social shifts and developments, it’s crucial that property owners and managers both understand the laws regarding tenant discrimination, as well as take steps to mitigate risks they may face by violating tenant rights.
In this environment, tenant discrimination insurance (TDI)
The Investor Protection Fund (IPF), created by the Securities and Exchange Commission of Zimbabwe (SECZ) in 2010, is playing a key role on the local investment landscape. The IPF’s purpose is to provide compensation to protected investors who have suffered losses, which have occurred when a licensed contributor to the Fund is unable to meet their liabilities. This
Britain’s markets regulator said on Wednesday it had failed to strike a deal with major insurers over prompt payouts to small businesses battered by the coronavirus pandemic, dashing hopes that a Supreme Court appeal could be easily avoided.
The Financial Conduct Authority (FCA) set a Wednesday deadline for talks with insurers, such as QBE and RSA, to ensure eligible business interruption (BI)
Pension’s asset base strengthens
Staff reporter
Revaluation of investment property and quoted equities in response to currency reforms and inflation saw an 843 % increase in the pensions total asset base in the half year to June 2020.
The two asset classes increased by 1 263.41% and 657,10% respectively while the total asset base of the industry increased to $66,41 billion as at 30 June 2020, up
Staff reporter
Fanset International says its new offering, User Based Insurance (UBI) is set to revolutionalise the local insurance industry as it aims to assist insurance companies to offer dynamic pricing to their customers.
This will be through use of its special technology that analyses driver’s behaviors and giving them a ranking on top of being able to accurately reconstruct accidents on the
Funeral Assurers struggle to comply with prescribed asset ratio
Staff Reporter
Funeral Assurers compliance with prescribed assets declined by 50% in the half year ended June 30 2020 to 0, 02% from 0, 04% comparable period last year.
The funeral assurers are expected to comply with the minimum prescribed asset ratio of 10.00% as stipulated by Statutory Instrument 206 of 2019.
Insurance and Pensions Commission